Cost accounting

source, way of operating and relationships with customers. Instance can be referred to patents, copyrights, franchises, goodwill, trademark, brands names; it leads to save the enterprise and can call the cost of intangible assets and certain business. Intangible asset is unrecognized accounting reports. The concept intangible success factors are refers to managerially relevant intangible assets and also to the activities related to improvement. This objective of the research question is related…

detailed accounting and meticulousness of the Activity-Based Costing systems. The Activity-Based Costing (ABC) system, is considered to be a sophisticated method that assigns overhead cost into two stages (Lelkes, & Deis 2013). In the first stage of Activity-Based Costing, cost are allocated by accounting activities and they are then categorized in different levels Lelkes, & Deis (2013) such as unit-level, batch-level, product-level and facility-level. (p. 58). In the second stage of cost…

ability to reveal the hidden sources of profitability and embedded cost, and to serve as a catalyst for decisions to improve profitability (Turney, 2008). For example, manufacturing indus-tries, financial institutions have diverse products and customers, which can cause cross-product or cross customer subsidization. Since personnel expenses represent the largest single component of non-interest expenses in financial institutions, these costs must be allocated accurately to products and…

and Rajan, M. (2014). Managerial Accounting. (1st ed.). Boston: Pearson Prentice Hall Appendix A Appendix B 5-Step Critical Thinking Decision-Making Process Matrix Step 1: Identify the problem(s) and uncertainties. What exactly is the problem… (Study the problem to clarify what you need to know to solve it. Distinguish problems over which you have some control from problems over which you have no control. Pay special attention to controversial issues in which it is essential to consider…

Private prisons lobby for harsh criminal laws to increase profit at the cost of inmates’ wellbeing. In 1998 election cycle, private prisons contributed $540,000 to 361 politicians (Anderson, 2009). Bribes were also used as method to encourage private prisons. In 2009, two Pennsylvania judges received $2.6 million to oppose alternative and lenient sentences for juveniles (Anderson, 2009) Incarceration negatively affects recidivism rates (Anderson, 2009). To emphasize, on what private prisons have…

Introduction: This Memo provides price and efficiency variances for Specialty Scientific’s manufactured product, the Magellan XS GPS device. Additionally, there is a brief overview of the company’s actions and suggestions for Specialty Scientific. The table below pertains to the Magellan XS. Information about the calculations for these numbers is provided in attachments. TABLE 1 Direct material/Direct Labor Navigation System Polarized Glass Plastic Casing Manufacturing Labor Hours Direct…

Mental accounting is a behavioral construct considered in economic psychology as an essential variable in explaining the saving and consumption behavior of consumers. Consumers employ mental accounting techniques to track their financial activities using account labels and rules. The presence of account labels influences the decision to spend. In the BLC…

to hear a foreign competitor will be selling a similar product at a more affordable price, $350, meanwhile it cost them $375 for a complete…

documented, authorized and in compliance with accounting procedures…

Reducing operating costs is probably the easiest and most effective way to increase profit margins. In most situations reducing operating costs in a company can’t be done without a tradeoff. In this exchange a company might have to sacrifice quality in order to decrease costs or take measures that negatively affect employees in order to reduce labor expenses. In most of these situations management must make difficult decisions that have the potential to help or harm the company in the long term.…